NEW YORK, July 10 (Reuters) – Short interest on the Nasdaq fell 1.8% in the second half of June, the exchange said on Wednesday.

As of June 28, short interest fell to about 14.197 billion shares, compared with 14.462 billion shares as of June 14.

Investors who sell securities ‘short’ borrow shares and then sell them, expecting the stock to fall so they can buy the shares back at the lower price, return them to the lender and pocket the difference.

Shorting can also be part of a hedging strategy.

(U.S. markets team)

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